Type: Bullish BounceKey Levels:Resistance: 0.6506Pivot: 0.64282Support: 0.63897Preferred Case:With price expected to bonce off the Ichimoku cloud support and the ascending trend line support, we have a bullish bias that price will rise to our 1st resistance at 0.6506 in line with the 61.8% Fibonacci projection from our pivot of 0.64282 in line with the pullback support and 61.8% Fibonacci retracement.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 0.63897 in line with the 78.6% Fibonacci projection.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/nzdchf-h4-or-potential-for-a-rise"
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